Proper investigation while arriving at the valuation of the shares of this company. - Income Tax - 906/CBDT

INSTRUCTION NO. 906/CBDT Dated : December 24, 1975 It has been brought to the notice of the Board that the closing price of shares of New City Mills was quoted in the Bombay Stock Exchange on 29th March, 1975 at Rs. 110 and not at Rs. 105. There were in fact, three quotations on that date is Rs. 102.50, Rs. 105 and Rs. 110. The stock Exchange authorities have accordingly issued an addendum in this regard in the daily official list of the Stock Exchange quotation No. 207 dated 13th November 1975. 2. This information may please be passed on to the assessing officers for their guidance and they should be advised to make a proper investigation while arriving at the valuation of the shares of this company.